We are pleased to offer a variety of Construction Permanent Loan programs, which enable our members to finance the construction of a new home. Construction Permanent Loans offer the convenience of a one time loan application, approval, processing documentation, and loan closing covering both the Construction Loan and the Permanent Mortgage Loan. See the Const. Perm Loan Products tab for additional information on the variety of loan products offered.

The Construction Permanent Loan offers a Construction Draw Period, which enables the lender to disburse loan funds during the course of construction based on the inspection of the property and on the percentage of completion of the home. Interest only is collected at each draw during the construction period. Upon completion of construction and receipt of final inspection and a certificate of occupancy, the loan transitions into the permanent mortgage loan. At that point, all remaining interest due will be collected and proof of insurance will be required, along with the collection of escrow, if applicable.  Standard mortgage payments,based on the permanent loan amount, interest rate and the loan term begins.

Members may apply and receive on line approval for our construction permanent loan programs. Special Construction loan documentation is required. See the Const. Perm Learn section for additional information.